Cosco Shipping has acquired all of LBC Tank Terminals' interests in the Shanghai terminal after the company announced it will divest them.
The sale, which was effective from June 12, is subject to government approval.
The divestment will allow LBC to focus on the extensive expansion projects currently underway in Europe and the US as well as several other potential projects in the LBC expansion portfolio.
The terminal, located near the Yangtze River mouth, has a total capacity of 74,000 m3 spread across 62 tanks.
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